Cramer: Terrific stock in terrific tech

Xilinix CEO Moshe Gavrielov discusses what he calls a "tremendous upcycle driven by a strong portfolio, and the imminent deployment of wireless infrastructure in China," as well as strong growth in his business' end of Cisco.

Developments in the tech sector have impressed Cramer. And that's not easy to do. In fact, he's so impressed, he's putting money to work in the sector for his charitable trust.

"Not only was Wednesday a good day for the market, it was a fabulous day for technology stocks, and it might be the first of many.," he said.

The Mad Money first cited earnings from Ciena, a global supplier of telecommunications networking equipment, which beat estimates with revenue surging 13.56% to $538.4 million from the year-earlier quarter..

"We got an estimate bump up, not a cut, but an estimate increase for Apple, as well as a new recommendation. It looks like Apple's slumber is over," he said.

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However, of all the stocks in the sector, Cramer is perhaps most enthusiastic about Xilinx.

"When I play the space, I look for a stock that's proprietary and not shackled to the personal computer. For me that's a stock like Xilinx, a semiconductor company that's the number one maker of programmable logic devices."

"My charitable trust owns the stock," he added.

Cramer said that Xilinx makes, for lack of a better word, a 'smart' microchip; "that can be programmed and customized for each customer as needed."

And although Xilinx currently controls about 50% of the market he thinks the company still has considerable room to grow.

"These programmable logic chips make up just 2% of the total $300 billion semiconductor market, so I think Xilinx can grow simply by taking share from traditional semiconductor players who make chips that can't be customized."

And, although the fundamentals are strong, Cramer sees another catalyst for Xilinx, as well as many other tech stocks. Often times tech shares ebb and flow and "we've now entered what is, seasonally, the strongest part of the year for tech."